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Restaurant

Chili's Ground Lease | Target Outlot | Low Rent to Sales Ratio

12740 Illinois Rte 59, Plainfield, IL 60544

Listing Price: $1,936,000

Cap Rate
5.25%
Tenant Name
Chilis
Years Remaining On Lease
4.8
Gross SF
6,150
Guarantor
Corporate Guarantee
Rentable SF
6,150
Price/Gross SF
$314.80
Lease Type
Ground Lease
Rent Per Square Feet
$16.53

Investment Overview

Marcus & Millichap is pleased to present Chili’s Ground Lease located in Plainfield, Illinois. This property is shadow anchored by Target, Ross Dress for Less and Five Below and is an outlot in Kensington Center. There is five years remaining on corporately guaranteed ground lease with 12% rental increase in final renewal option (March 2027). The lease is corporately guaranteed by Brinker Restaurant Corporation. Long operating history as the tenant has occupied space since 2002. Very low, replaceable rent at only $16.53 per square foot with healthy rent-to-sales ratio (contact agent for details). High visibility with attractive real estate with 250 feet of frontage along route 59. There are five points of ingress/egress and 80 surface space. The property is situated on the hard-corner intersection of Route 59 and 127th Street with 49,575 total vehicles passing per day. Located in a super-regional location amongst schools, major retail and medical ° down the street from Walmart, Jewel-Osco, Menards, Meijer, Aldi, Good Will, Walmart, Kohl’s, CVS Pharmacy, Walgreens and many more national retailers. Three new and under construction residential communities within one mile of subject property, totaling close to 500 dwellings. Less than half a mile to Edward-Elmhurst Outpatient Center and two high schools located within two miles of subject property totaling over 4,400 students. Growing population with affluent demographics within three miles of subject property the population is 48,487 with an average household income of $171,596. There is a 4% anticipated population increase by 2026.

Investment Highlights

  • Shadow Anchored by Target, ROSS Dress for Less and Five Below
  • Five Years Remaining on Corporately Guaranteed Ground Lease
  • High Visibility with Attractive Real Estate
  • Situated on the Hard-Corner Intersection of Route 59 and 127th Street | 49,575 Total Vehicles Passing per Day
  • Super Regional Location | Located Amongst Schools, Major Retail and Medical
  • Growing Population with Affluent Demographics

Exclusively Listed By

Restaurant

Chili's Ground Lease | Target Outlot | Low Rent to Sales Ratio

Listing Price: $1,936,000

Cap Rate
5.25%
Tenant Name
Chilis
Years Remaining On Lease
4.8
Gross SF
6,150
Guarantor
Corporate Guarantee
Rentable SF
6,150
Price/Gross SF
$314.80
Lease Type
Ground Lease
Rent Per Square Feet
$16.53

Investment Highlights

  • Shadow Anchored by Target, ROSS Dress for Less and Five Below
  • Five Years Remaining on Corporately Guaranteed Ground Lease
  • High Visibility with Attractive Real Estate
  • Situated on the Hard-Corner Intersection of Route 59 and 127th Street | 49,575 Total Vehicles Passing per Day
  • Super Regional Location | Located Amongst Schools, Major Retail and Medical
  • Growing Population with Affluent Demographics

Investment Overview

Marcus & Millichap is pleased to present Chili’s Ground Lease located in Plainfield, Illinois. This property is shadow anchored by Target, Ross Dress for Less and Five Below and is an outlot in Kensington Center. There is five years remaining on corporately guaranteed ground lease with 12% rental increase in final renewal option (March 2027). The lease is corporately guaranteed by Brinker Restaurant Corporation. Long operating history as the tenant has occupied space since 2002. Very low, replaceable rent at only $16.53 per square foot with healthy rent-to-sales ratio (contact agent for details). High visibility with attractive real estate with 250 feet of frontage along route 59. There are five points of ingress/egress and 80 surface space. The property is situated on the hard-corner intersection of Route 59 and 127th Street with 49,575 total vehicles passing per day. Located in a super-regional location amongst schools, major retail and medical ° down the street from Walmart, Jewel-Osco, Menards, Meijer, Aldi, Good Will, Walmart, Kohl’s, CVS Pharmacy, Walgreens and many more national retailers. Three new and under construction residential communities within one mile of subject property, totaling close to 500 dwellings. Less than half a mile to Edward-Elmhurst Outpatient Center and two high schools located within two miles of subject property totaling over 4,400 students. Growing population with affluent demographics within three miles of subject property the population is 48,487 with an average household income of $171,596. There is a 4% anticipated population increase by 2026.

Exclusively Listed By

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